Buy bitcoin with debit card south africa

Want to get your hands on some Bitcoin without actually buying it? Web wallets, such as Blockchain Wallet and GreenAddress , offer convenient online access to your Bitcoin. Only a legal professional can offer legal advice and Buy Bitcoin Worldwide offers no such advice with respect to the contents of its website.

The Regulatory Environment

Created in by an unknown person or persons using the alias Satoshi Nakamoto, bitcoin is a form of decentralised electronic cash designed to provide a viable alternative to traditional fiat currency. Rather than having to deal with a centralised authority such as a bank to process transactions, bitcoin holders can transfer their coins directly buy bitcoin with debit card south africa one another on a peer-to-peer network. All bitcoin transactions are tracked on a public ledger known as the blockchain, and people working as miners verify transactions and update the blockchain. A step-by-step guide to buying bitcoin You can buy bitcoin in South Africa in three simple steps:. The next step is to decide how and where debif will buy bitcoin.

The Regulatory Environment

We do research on every exchange we list and are very careful not to include scam exchanges on our site. Coinbase charges a flat 3. Want to buy on Coinbase? This guide will show you step-by-step in more detail how to use Coinbase. We may receive compensation when you use Coinbase. Please visit Coinbase for its exact pricing terms. Coinmama is a bitcoin broker that specializes in letting you purchase bitcoin with a debit or credit card.

Read our beginner’s guide to buying bitcoin (BTC) with step-by-step instructions.

We do research on every exchange we list and are very careful not to include scam exchanges on our site. Coinbase charges a flat 3. Want to buy on Coinbase? This guide will show you step-by-step in more detail how to use Coinbase.

We may receive compensation when you use Coinbase. Please visit Coinbase for its exact pricing terms. Coinmama is a bitcoin broker that specializes in letting you purchase bitcoin with a debit or credit card. After your account is verified and a purchase is made you will receive your bitcoin within a few minutes.

Coinmama is only available in some US states; please see this page for details. Want to buy using Coinmama? This guide will show you step-by-step how to use Coinmama. We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.

Luno allows users in Europe to purchase bitcoins with a credit card or debit card. The company offers very low fees. We may receive compensation when you use Luno. Please visit Luno for its exact pricing terms. Bitpanda is a Bitcoin broker located in Austria. Only residents of Europe can use Bitpanda. Note that the fees are not displayed publically but displayed in your buy price when completing your purchase. Our guide will show you how to buy bitcoins with a credit card on Bitpanda.

We may receive compensation when you use Bitpanda. Please visit Bitpanda for its exact pricing terms. CEX is only available in some US states; please see this page for details. We may receive compensation when you use CEX. Please visit CEX. Coinbase lets you buy bitcoins instantly with a credit card or debit card. Here are step-by-step instructions to help make the buying process easier for you.

Once you create an account, confirm your personal details and login. You may be asked to upload a scan of ID. Navigate to the top right corner and click on your. There should be a drop-down menu where you can click «Settings». Then click «Payment Methods» on the menu at the top and you should see something that looks like this:.

You should see a confirmation like the one. Enter the amount you want to buy, and click «Buy Bitcoin Instantly». Your coins will then be delivered to your Coinbase wallet! This section will show you how to buy using CoinMama. PS: you can also check out our CoinMama review! Once you create your account and verify your email address, you can begin following the steps below:.

If you don’t have a wallet yet, learn how to get a Bitcoin wallet. This section will show you how to buy using BitPanda. PS: you can also check out our BitPanda review! Login to your account and click «Buy» in the top menu bar. You will now see a page like. Also, enter the amount of euro you want to spend or amount of BTC you want to buy:. Note that only 3d-Secure Mastercard and verified by Visa cards are allowed.

If you don’t have one of these try CoinMama or Coinbase. Now you need to confirm that the amount you entered before is indeed the amount you want to buy. Also, you confirm that you agree to BitPanda’s exchange rate. In the «the Current Price» field you can also see the exchange rate you are getting.

If you verified successfully, you can now click «Click here to start the payment process». Make sure you note the 10 minute time—you have this amount of time to complete your order. On this page you enter your credit card details through mPAY One you enter your card information press «Bezahlen»:.

That’s it! Now in your BitPanda account you can check your «History» tab to view the trade details. If you’re still a bit confused, that’s okay. Buying bitcoins is hard and that’s why I built this site. First of all, make sure the company you’re buying for has a good reputation and is regulated.

It’s possible that sketchy companies selling buy bitcoin with debit card south africa may be collecting card credit card fraud information and could possibly use your information to make fraud purchases with your card.

Some users have reported cash advanced fees, so be sure to understand how your CC company handles the purchase of bitcoins. Also one of the fastest! Since most people understand how to shop online using credit and debit cards, it may be easier for less technical buyers to use credit cards to purchase bitcoins.

It’s hard to buy large amounts of bitcoins with a CC or DC. Also, the fees are higher due to the risk of fraud and scams. Do you want to buy larger amounts of bitcoins? Try buying with a bank account and you’ll save on fees.

This is not possible since you won’t pass ID verification. It’s also illegal, so you should not do it or try. Most exchanges will not allow you to use a pre-paid debit card. To buy bitcoin with a pre-paid debit card you will have to exchange it locally using LocalBitcoins. Credit card payments are reversible. Because Bitcoin transactions are irreversible, it’s risky for a merchant to sell bitcoins for CC payments. Companies have found new ways to prevent fraud and thankfully this has made it much easier to buy with a CC, as evidenced by the many options listed.

It depends how much you trust the exchanges. Just like any information you give up online, there is always the risk that it can be hacked or stolen from the website you give it to. One thing that Bitcoin exchanges have going for them is that because they are constantly under attack, they have some of the best security and protections in place to protect against the hacking of your personal info.

There is always risk with anything related to information online. Even Yahoo was hacked and information on million accounts was stolen. Wells Fargo likely took another step, although the bank said they may allow purchases of cryptocurrency again down the line. The best way is to read through the description for each exchange. Make sure you find one that supports your country and has fees that you’re okay. You’re also free to try multiple exchanges to see which you like using the best. Do you want to buy bitcoins more privately?

Try buying bitcoins with cash instead. Each bitcoin is divisible to the 8th decimal place, meaning each bitcoin can be split into , pieces. Each unit of bitcoin, or 0. Most Bitcoin exchanges will let you specify the amount of fiat currency you want to spend and in exchange sell you the equivalent amount of Bitcoin. Vice-versa, most Bitcoin brokers also let you specify the amount of bitcoin you want and will charge you buy bitcoin with debit card south africa equivalent in fiat.

For example, if you want to buy 0. We really recommend storing any bitcoins you want to keep safe in a wallet you. Many Bitcoin exchanges have been hacked and lost customer funds. If you don’t want to fall victim to these hacks then the easiest way is to store your coins in a wallet you control.

Out of the exchanges we listed, CEX. Probably not. Payment processors like Visa, Mastercard and American Express charge at least 2. So any exchange selling bitcoins for CC payments is always going to pass this fee off to you, plus charge a bit more to make a profit. The fees could get lower if some exchange cuts a deal with a credit card processing company to get lower fees. Depends on the exchange.

Ask an Expert

It is thus advisable for a cryptocurrency trader in the country to hire a professional tax consultant to ensure they are tax compliant. Once you have a wallet in place, you can choose from the likes of Luno, Coinmama, CoinCorner, Bitit, and a few other options to buy Bitcoin. This is when the exchange checks your identification. Luno, for instance, allows users to instantly buy Bitcoin, is known for free deposits, and provides users with really high limits based on their verification level. Thus, South Africa is a buzzing haven for Bitcoin. How likely would you be to recommend finder to a friend or colleague? Your capital is at risk. It is not a recommendation to trade. The seller has the freedom to specify the price they want and their accepted payment methods, and this method allows you to trade with increased privacy. This step-by-step guide will show you how to use Coinmama. Read review. Fastest: Coinmama There are two main things that can slow down buying cryptocurrency. Use a crypto broker that accepts cash deposits, such as Coinbase. Step 2. Disclaimer: Buy Bitcoin Worldwide is not offering, promoting, or encouraging the purchase, sale, or trade of any security buy bitcoin with debit card south africa commodity. We may receive advertising compensation when you click certain products.